President Bola Tinubu yesterday signed the N54.99 trillion 2025 Appropriation Bill into an Act with a declaration that his administration’s economic discipline and strategic reforms have delivered results that many had thought were impossible.
Also, yesterday, in Ilorin, Kwara State, the Minister of Agriculture and Food Security, Abubakar Kyari and the Deputy President of the Senate, Jibrin Barau, declared that the reforms initiated by the president on agriculture and food security were yielding positive results.
They also said the prices of foodstuffs were already coming down in the various markets across the country.
The 2025 budget, which Tinubu described as a “Budget of Transformation,” was designed to empower citizens, build economic resilience, and ensure shared prosperity, he added.
The bill, which was passed in separate sessions by the two Chambers of the National Assembly on Thursday, February 13, after increasing it from the initial figures of N49.7 trillion submitted by Tinubu, was signed at a brief ceremony in the President’s office at the State House, Abuja.
The 2025 Appropriation Act represents a 99.96 percent increase from the 2024 Budget of N27.5 trillion.
The breakdown of the 2025 budget put the total expenditure at N54.99 trillion; Statutory Transfers: N3.65 trillion; Recurrent (Non-Debt) Expenditure: N13.64 trillion; Capital Expenditure: N23.96 trillion; Debt Service: N14.32 trillion; Deficit-to-GDP Ratio: 1.52 percent.
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